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This article from Bloomberg reports about an action last week where the U.S. Bureau of Land Management sold 15 leases “covering about 18,000 acres of the Monterey Shale, a geologic formation whose sweet spots stretch from east of San Francisco more than 200 miles south to Monterey County.”  California first drilled for oil in 1865, was once the largest producing state in the US, and was the birthplace of Chevron in 1911.  But that was before the green movement and way before current Governor Jerry Brown took office.  One of the most interesting sub stories of the shale energy phenomena will be how California navigates its “golden” opportunity in light of its history and current economic woes. 

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